How Will Filing Bankruptcy Affect My Children?
Filing for bankruptcy can be a difficult decision to make, but it may be the best option for you and your family. You may be wondering how filing for bankruptcy will affect your children.
There are a few things to consider when determining how bankruptcy will affect your children. First, consider the type of bankruptcy you will be filing. There are two types of bankruptcies that consumers can file: Chapter 7 and Chapter 13.
Chapter 7 bankruptcy is typically called “liquidation bankruptcy” because it requires the debtor to sell some of their assets in order to repay creditors. If you have minor children, you may want to consider Chapter 7 bankruptcy because it will allow you to keep your home and other essential assets.
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